Free Trial

###POV $1.3656-1.3833 Key For LT........>

CABLE TECHS
CABLE TECHS: ###POV $1.3656-1.3833 Key For LT Traders
*RES 2: $1.3833 - Monthly Low Feb 29 2016 
*RES 1: $1.3656 - 2017 High Sept 20
*PRICE: $1.3145 @ 0110GMT
*SUP 1: $1.3032 21-WMA
*SUP 2: $1.2587 Monthly Low June 21
###POV: The LT falling TL off $1.7191 2014 highs capped the recovery from 2017
lows ($1.1979) with pressure now on the 21-WMA. LT bears look for a close below
the 21-WMA to add weight to the case for a deeper sell-off. Overall the $1.2587
support is key with LT bears needing a close below to confirm a break of the
55-WMA ($1.2703), shift initial focus to $1.1979 and overall focus to tests of
2016 lows.
- The $1.3656-1.3833 resistance region is key for LT traders. LT Bulls look for
a close above $1.3656 to confirm a break of the LT falling TL ($1.3601) and
above $1.3833 to end bearish hopes and shift focus to $1.4629-1.5018 where the
200-WMA is situated. Click for chart https://tinyurl.com/y7xhm4ch

To read the full story

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.